And later on, if values get back to "robust" levels, you could sell with the appreciation, or continue renting and cash-flowing at the favorable level.This is all coming from a newbie, so take it for what it's worth. 

@Preet Bains - it is really going to depend on your level of experience and risk tolerance.  

Thanks Brie  the thing that gets me is not the $240 the fact that the Board singled out investors on many levels , adding increasing fines if rental is visited by police, wanting to be on liability policy of unit.  

This is simple and does not dive into ROI or high level marketing analysis, which is needed for sure once you are rolling.  

Hi @James Brand - I'm located in Philly and I always install ceiling fans in my rentals no matter the level of tenant/neighborhood.

That was painful.When a potential borrower, agent, or broker now approaches us, we can have a short top-level conversation about what we do and our terms, but we always follow this up with our not-so-short email that we know responds to 99.9% of their other questions+.

And yes, I want to refinance the investment property.Thanks I don't know what your rates are out in California, but here in TN upper 4's is the best you are going to do on an investment mortgage. 

So while my end-goal is be in a different (and hopefully more profitable) market, my experience level dictates that the smart move for me would be to start locally.As @Patrick Liska said, if it's a good deal, GO FOR IT.

Hello everyone,  my name is frederick,  I'm entry level at real Estate investing,I am from and reside in atlanta Georgia.

The landlord tenant act is important in determining what you have to do as landlord....more strict and higher levels of service required for true commercial vs quadplex or less.